BA Principles Of Economics
Principles of Economics
(Common for Private Registration to BA History, Political Science, Sociology,
& Islamic History Programmes)
1.
a)
b)
c)
d)
e)
In Economics the central problem is: money production consumption allocation scarcity 2.
a)
b)
c)
d)
Macroeconomics deals with: the behaviour of firms. the activities of individual units. economic aggregates. the behaviour of the electronics industry
3.
a)
b)
c)
d)
Microeconomics is not concerned with the behaviour of: firms. aggregate demand. consumers. Industries
4.
a)
b)
c)
d)
The study of inflation is part of: macroeconomics. normative economics. microeconomics. descriptive economics
5.
a)
b)
c)
d)
Aggregate supply is the total amount: of goods and services produced in an economy. produced by the government. of products produced by a given industry. of labour supplied by all households
6.
a)
b)
c)
d)
The total demand for goods and services in an economy is known as: aggregate demand. national demand. economy-wide demand. gross national product
7.
a)
b)
c)
d)
Inflation is: a decrease in the overall level of economic activity. a decrease in the overall price level. an increase in the overall price level. an increase in the overall level of economic activity
8. A recession is:
a) a period of very rapidly declining prices.
b) a period of declining prices.
1
c) a period during which aggregate output declines.
d) a period of declining unemployment
9.
a)
b)
c)
d)
Indicate below what is NOT a factor of production.
Labour
Land
Capital
A bank loan
10.
a)
b)
c)
d)
Unemployment means that: there are some people who will not work at the going wage rate. there is excess demand in the labour market. people are not willing to work at the going wage rate. at the going wage rate, there are people who want to work but cannot find work
11.
a)
b)
c)
d)
If marginal benefit is greater than marginal cost, a rational choice involves: no more of the activity. more or less, depending on the benefits of other activities.
(Common for Private Registration to BA History, Political Science, Sociology,
& Islamic History Programmes)
1.
a)
b)
c)
d)
e)
In Economics the central problem is: money production consumption allocation scarcity 2.
a)
b)
c)
d)
Macroeconomics deals with: the behaviour of firms. the activities of individual units. economic aggregates. the behaviour of the electronics industry
3.
a)
b)
c)
d)
Microeconomics is not concerned with the behaviour of: firms. aggregate demand. consumers. Industries
4.
a)
b)
c)
d)
The study of inflation is part of: macroeconomics. normative economics. microeconomics. descriptive economics
5.
a)
b)
c)
d)
Aggregate supply is the total amount: of goods and services produced in an economy. produced by the government. of products produced by a given industry. of labour supplied by all households
6.
a)
b)
c)
d)
The total demand for goods and services in an economy is known as: aggregate demand. national demand. economy-wide demand. gross national product
7.
a)
b)
c)
d)
Inflation is: a decrease in the overall level of economic activity. a decrease in the overall price level. an increase in the overall price level. an increase in the overall level of economic activity
8. A recession is:
a) a period of very rapidly declining prices.
b) a period of declining prices.
1
c) a period during which aggregate output declines.
d) a period of declining unemployment
9.
a)
b)
c)
d)
Indicate below what is NOT a factor of production.
Labour
Land
Capital
A bank loan
10.
a)
b)
c)
d)
Unemployment means that: there are some people who will not work at the going wage rate. there is excess demand in the labour market. people are not willing to work at the going wage rate. at the going wage rate, there are people who want to work but cannot find work
11.
a)
b)
c)
d)
If marginal benefit is greater than marginal cost, a rational choice involves: no more of the activity. more or less, depending on the benefits of other activities.